With central banks printing money faster than they can chop down trees it doesn't make sense that the price of Gold doesn't just shoot straight up, but as the Market is smarter than everyone else it has been pricing that in for quite sometime and as a matter of fact GLD was one of the most crowded trades on Wall Street as all it has done for the past 10 years is go up.UP...UP
We've been beating the table since GLD@169 that GOLD was building a massive descending triangle reversal
On 5-17-2012 our proprietary indicators and software forecasted gold would retest 157.76 (chart posted to stocktwits on 5-17-12) this price forecast came to fruition and temporarily topped out on 6-16-12 chart posted at bottom of page.
On 12-21-13 we posted a warning chart on stocktwits again that GLD would ultimately test 153 (against popular opinion and the media telling everyone ("money is pouring into GLD ETF") since then gold has chopped sideways along the 0.618 Fibonacci level & may possibly test the 50.0 Fibonacci level of 165.78 before heading lower or breaking out.
What is interesting is the divergence between the relative strength indicators pointing up while the money flow is clearly in the "waterfall" stage as institutional Investors sell into strength and drain the liquidity from this popular ETF - the Implied volatility in the PUT options has been rising despite the ever so slight uptrend (before the crash) in GLD basically increasing the "insurance" against a downdraft in the price of GOLD. The money flows confirm the anomaly - ACCESS NEW PRICE FORECAST BELOW CHART - continued below chart....
CHART POSTED ON STOCKTWITS 05-17-12
Our proprietary indicators are painting a rather disturbing picture right now and have alerted our subscribers in real time and they are now strategically positioned to profit from this the price movement in GOLD (GLD)
To view our detailed technical charts with easy to understand notes and price targets click here to view our price forecast for GLD
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